{"id":1280,"date":"2026-06-12T15:40:54","date_gmt":"2026-06-12T15:40:54","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=1280"},"modified":"2026-06-12T15:40:54","modified_gmt":"2026-06-12T15:40:54","slug":"elon-musk-the-trillionaire-pay-packets-go-multi-planetary-in-spacex-ipo","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=1280","title":{"rendered":"Elon Musk, the trillionaire: pay packets go multi-planetary in SpaceX IPO"},"content":{"rendered":"<div>\n<p>The world\u2019s richest man is set to become its first trillionaire.<\/p>\n<p>Musk on Friday marked the opening of trading on Nasdaq, where the company\u2019s shares will be listed, by joining a ceremonial bell ringing from Starbase, the South Texas home of SpaceX.<\/p>\n<p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=1278\">Your AI is already setting prices. The real question is who sets the rules<\/a><\/p>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<p>He reiterated his lofty goals \u201cto make life multi-planetary.\u201d<\/p>\n<p>\u201cNot just a few astronauts, I mean literally you,\u201d Musk said. \u201cWhoever you are watching this, SpaceX wants to be able to take you to the moon, take you to Mars and ultimately beyond.\u201d<\/p>\n<p>Known for his brilliant technology breakthroughs, as well as wild claims and missed deadlines, Musk is expected to break that trillion dollar mark in the biggest initial public offering ever as investors place bets on a company with losses as big as its ambitions. Ahead of the first trade in SpaceX, Forbes puts Musk\u2019s net worth at $982.6 billion.<\/p>\n<p>In addition to establishing a one-million person Martian colony, the company has promised to save humanity by establishing other outposts in space, launch data centers the size of football fields into orbit and outdo rivals Anthropic and OpenAI in the race to make money from artificial intelligence.<\/p>\n<div>\n<div><\/div>\n<\/div>\n<p>To reach its goals, SpaceX needs billions more than it currently takes in from its rocket and satellite business. Between the start of 2025 and March 31, 2026, the company lost $8.7 billion.<\/p>\n<p>Big institutional buyers and smaller-pocketed investors alike have indicated they are willing to take a chance, paying a high enough price for the 555.6 millions on offer to raise $75 billion. That easily tops the current title holder, Saudi Aramco, the oil giant that raised $26 billion in its 2019 initial offering.<\/p>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<p>Trading in the stock \u2014 symbol, SPCX \u2014 is expected later Friday.<\/p>\n<div>\n<div><\/div>\n<\/div>\n<p>Wall Street bankers that helped take SpaceX public are enthusiastic about the company \u2014 and the big fees they will earn \u2014 but not everyone thinks the stock price is justified.<\/p>\n<div>\n<div><\/div>\n<\/div>\n<p>Analysts at research firm Morningstar, which doesn\u2019t earn any investment banking fees, wrote that the IPO is \u201csignificantly overvalued\u201d because of SpaceX\u2019s unproven technology and massive capital needs.<\/p>\n<p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=1276\">SpaceX\u2019s first employee, Tom Mueller, thinks the historic IPO is just the beginning<\/a><\/p>\n<p>They estimate the company is only worth $780 billion \u2014 less than half its IPO value.<\/p>\n<p>Still, Musk has pulled off the seemingly impossible before.<\/p>\n<p>The soon-to-be trillionaire \u2014 on paper at least \u2014 made his fortune by creating two companies, Zip2 and PayPal, that netted him about $200 million at sale. He used that money to start SpaceX and invest in Tesla, and defied the odds by creating a space company that figured out how to reuse rockets and a car company that made electric vehicles cool.<\/p>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<p>Musk has realized vast sums of wealth for himself, much of it in stock he has yet to cash in or grants for shares he\u2019ll only receive if Tesla or SpaceX hit ambitious performance targets. His recent pay package from Tesla drew criticism from the Vatican. At Tesla, he\u2019s worried shareholders by fighting with regulators or dividing his attention between multiple companies and last year by taking a role in the Trump administration.<\/p>\n<p>But a rising stock price has cured all ills: Since it went public in 2010, Tesla has returned 20,000% for shareholders, or more than $1.2 trillion in investor wealth. That has helped lift Musk\u2019s pre-SpaceX IPO worth to $795 billion, according to Forbes magazine.<\/p>\n<p>SpaceX is the first of three \u201cmegacap\u201d companies expected to go public this year, with Anthropic and OpenAI to follow. Nasdaq even revised its rules to allow SpaceX to gain entry into funds tied to its indexes in 15 days, which means investors will end up buying the rocket maker\u2019s shares much earlier.<\/p>\n<p>Not all investors are thrilled about SpaceX potentially showing up in their holdings of index funds. Officials from pension funds for firefighters, teachers and other workers in California and New York sent a letter to SpaceX last month decrying some of the provisions in its IPO, including the \u201csuper voting shares,\u201d mandatory arbitration of shareholder claims instead of the possibility of lawsuits and how much power Musk will hold over the company.<\/p>\n<p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=1274\">Current price of Bitcoin for June 12, 2026<\/a><\/p>\n<div>\n<div><\/div>\n<\/div>\n<p>__<\/p>\n<p>AP reporters Stan Choe and Wyatte Grantham-Philips contributed from New York.<\/p>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The largest IPO in history raised $75 billion Friday despite $8.7B in losses since 2025. Did your pension boost the &#8220;significantly overvalued&#8221; stock?<\/p>\n","protected":false},"author":1,"featured_media":1279,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[161],"tags":[],"class_list":["post-1280","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-spacex"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Elon Musk, the trillionaire: pay packets go multi-planetary in SpaceX IPO - Cross Country Moving Team<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crosscountrymovingteams.com\/?p=1280\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Elon Musk, the trillionaire: pay packets go multi-planetary in SpaceX IPO - Cross Country Moving Team\" \/>\n<meta property=\"og:description\" content=\"The largest IPO in history raised $75 billion Friday despite $8.7B in losses since 2025. 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